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Economic Analysis of Irrigation in Subhumid Climate

Author

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  • Oscar R. Burt
  • M. S. Stauber

Abstract

An economic model is developed for analysis of investments in irrigation. The model encompasses the associated problem of temporal allocation of limited irrigation water within the growing season of a single crop. The problem is placed in the framework of stochastic dynamic programming, and it is shown how the algebraic form of the production function for the crop determines the appropriate state variables of the decision process. An application of the model is made to conditions prevalent in Central Missouri with com the irrigated crop.

Suggested Citation

  • Oscar R. Burt & M. S. Stauber, 1971. "Economic Analysis of Irrigation in Subhumid Climate," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(1), pages 33-46.
    • Handle: RePEc:oup:ajagec:v:53:y:1971:i:1:p:33-46.
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    File URL: http://hdl.handle.net/10.2307/3180295
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    Citations

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    Cited by:

    1. Bosch, Darrell & Eidman, Vernon, 1985. "The Value Of Soil Water And Weather Information In Increasing Irrigation Efficiency," Regional Research Projects > 1985: S-180 Annual Meeting, March 24-27, 1985, Charleston, South Carolina 271806, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    2. Eidman, V., 1989. "Quantifying and managing risk in agriculture," 1989 Annual Conference, September 25-27, Bloemfontein, South Africa 314723, Agricultural Economics Association of South Africa (AEASA).
    3. Caglar, Metin, 1974. "Optimization of intraseasonal water allocation," ISU General Staff Papers 197401010800006976, Iowa State University, Department of Economics.
    4. Botes, J. H. F. & Bosch, D. J. & Oosthuizen, L. K., 1996. "A simulation and optimization approach for evaluating irrigation information," Agricultural Systems, Elsevier, vol. 51(2), pages 165-183, June.
    5. Antle, John M., 1983. "Production Dynamics, Uncertainty, and Agricultural Decision Analysis," Working Papers 225705, University of California, Davis, Department of Agricultural and Resource Economics.
    6. Yousaf Muhammad & Georg Pflug, 2014. "Stochastic vs deterministic programming in water management: the value of flexibility," Annals of Operations Research, Springer, vol. 223(1), pages 309-328, December.
    7. Boggess, William G., 1984. "Risk Aspects of Irrigation Decisions," Regional Research Projects >1984: S-180 Annual Meeting, March 25-28, 1984, New Orleans, Louisiana 307237, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    8. Horowitz, Uri, 1974. "A dynamic model integrating demand and supply relationships for agricultural water, applied to determining optimal intertemporal allocation of water in a regional water project," ISU General Staff Papers 197401010800006990, Iowa State University, Department of Economics.
    9. Musser, Wesley, 1986. "Capital Budgeting Analysis Of Uncertainty In Irrigation Investments," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 272003, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    10. Michael Livingston & Michael J. Roberts & Yue Zhang, 2015. "Optimal Sequential Plantings of Corn and Soybeans Under Price Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(3), pages 855-878.
    11. Young, Douglas L., 1984. "Risk Aspects of Irrigation Decisions: Discussion," Regional Research Projects >1984: S-180 Annual Meeting, March 25-28, 1984, New Orleans, Louisiana 307238, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    12. Soonthornsima, Wipada, 1981. "Economic feasibility studies of irrigation in Northwest Iowa," ISU General Staff Papers 1981010108000018039, Iowa State University, Department of Economics.
    13. N. Umamahesh & P. Sreenivasulu, 1997. "Technical Communication: Two-Phase Stochastic Dynamic Programming Model for Optimal Operation of Irrigation Reservoir," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 11(5), pages 395-406, October.
    14. Reynaud, Arnaud, 2009. "Adaptation à court et à long terme de l'agriculture au risque de sécheresse : une approche par couplage de modèles biophysiques et économiques," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement (RAEStud), Institut National de la Recherche Agronomique (INRA), vol. 90(2).
    15. Mjelde, James W. & Dixon, Bruce L. & Sonka, Steven T. & Lamb, Peter J., 1987. "Dynamic Programming Model of the Corn Production Process for East-Central Illinois," Staff Paper Series 257981, Texas A&M University, Department of Agricultural Economics.
    16. Hatch, L. Upton & Hardy, William E., Jr. & Rochester, Eugene W. & Johnson, Gregory C., 1985. "Optimal Irrigation Pivot Location On Irregularly Shaped Fields," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(2), pages 1-8, December.

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